Patel Retail shares pop 20% on debut: What's the buzz
Patel Retail just raised ₹242.76 crore in its IPO, which saw massive demand—oversubscribed almost 96 times, thanks mostly to institutional investors.
Shares listed today at around ₹305 on BSE, about 20% higher than the issue price.
The company and its financials
Started in 2008 with one store in Ambernath, Patel Retail now runs 43 supermarkets across Thane and Raigad in Maharashtra.
They focus on tier-III and suburban shoppers, stocking over 10,000 products from groceries to clothes.
For FY25, they pulled in ₹826 crore revenue and made a net profit of ₹25.3 crore.
What to do with the stock now?
The IPO funds will help repay loans and boost working capital.
Brokers suggest short-term investors might want to lock in early gains after today's pop.
If you're thinking longer term, there could be more upside as the company plans to expand stores and improve margins—just keep an eye on how well they execute those plans.